EconPapers    
Economics at your fingertips  
 

The Role of Inference in Context Effects: Inferring What You Want from What Is Available

Drazen Prelec, Birger Wernerfelt () and Florian Zettelmeyer

Journal of Consumer Research, 1997, vol. 24, issue 1, 118-25

Abstract: It has recently been suggested that a number of experimental findings of context effects in choice settings can be explained by the ability of subjects to draw choice-relevant inferences from the stimuli. We aim to measure the importance of this explanation. To do so, inferences are assessed in an experiment using the basic context-effect design, supplemented by direct measures of inferred locations of available products on the price-quality Hotelling line. We use these measures to estimate a predicted context effect due to inference alone. For our stimuli, we find that the inference effect accounts for two-thirds of the average magnitude of the context effect and for about one-half of the cross-category context-effect variance. Copyright 1997 by the University of Chicago.

Date: 1997
References: Add references at CitEc
Citations: View citations in EconPapers (31) Track citations by RSS feed

Downloads: (external link)
http://dx.doi.org/10.1086/209498 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:jconrs:v:24:y:1997:i:1:p:118-25

Access Statistics for this article

More articles in Journal of Consumer Research from Oxford University Press
Bibliographic data for series maintained by Oxford University Press ().

 
Page updated 2021-12-26
Handle: RePEc:oup:jconrs:v:24:y:1997:i:1:p:118-25